The Scarcity Mindset


 As a longtime entrepreneur, when I think of my previous success, I found that keeping my eyes open to all opportunities and taking calculated risks were key. Those things would have been impossible to do if I was operating out of a scarcity mindset. An article from Very Well Mind describes a scarcity mindset as a persistent feeling that there are not enough resources. This can be time, money, etc (Blanchfield, 2022). If I gave into thoughts that there are never going to be houses available, I would never find my clients their dream home. A scarcity mindset can make people resistant to venture out and make money. This article will describe a scarcity mindset in detail and the impact it can have on your life.


Scarcity changes our brains 

Developing a scarcity mindset in this world is completely valid because many struggle to meet their basic needs, daily. The article from Blanchfield explains research has found that growing up in poverty has been linked to changes in the brain (Blanchfield, 2022). The key is not to try to avoid developing this mindset but to pinpoint areas of your life that are impacted to make the necessary changes to help you develop a mindset that creates success. The article emphasized that making changes to your mindset will not solve all your problems but it will ease your ability to problem solve and cope in the face of your struggle.


Later the article uses the example of when you make a snap decision because you do not have time to think through the outcome to describe what it feels like to make a decision while operating out of a scarcity mindset. This is the result of bandwidth fatigue from constantly having to think ahead, a consequence of living within scarcity. Blanchfield describes this as a drained state and in this state, activity in the prefrontal cortex is reduced, resulting in decision making becoming more difficult and less efficient (Blanchfield, 2022). Scarcity changes the brain and it is our job to rewire it back into abundance.


 The Impact of Scarcity on Communities of Color

Money can be a sensitive topic within communities of color due to a history of scarce resources and a sense of distrust that has developed. An article from Afropolitian describes Africa’s long history with scarcity and how it resulted in an underdeveloped economy that continues to deprive its people of their basic needs (Emole, 2022) . Consequently, the scarcity mindset continues to flow through the population today. 


Lack of trust feeds scarcity within communities of color but it does not come without reason. As a result of warfare and scarcity of resources, Africans were sold in the Atlantic Slave trade for 400 years. The article explains that many African languages describe an untrustworthy person as someone that can sell you (Emole, 2022). Years later, mistrust within communities persists as individuals of color struggle to trust outsiders, especially in terms of sales, resources, and money. The suffering that came of slavery will affect its descendants forever and should never be invalidated. It is important to acknowledge the ways scarcity has impacted communities of color to move toward an abundant mindset.

Emole Echeme Emole, C. (2022, November 3). A digital nation - from a scarcity mindset to a mentality of abundance. Afropolitan. https://www.afropolitan.io/newsletter/from-a-scarcity -mindset-to-a-mentality-of-abundance.

Theodora Blanchfield, A. (2022, March 24). How to shift from a scarcity mindset to an abundance mindset. VerywellMind. https://www.verywellmind.com/how-to-shift-from-a-scarcity -mindset-to-an-abundance-mindset-5220862.

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